Transmitting and receiving system



July15, 1941. BELLA-MY 2,248,937

TRANSMITTING AND RECEIYING- syswm Filed July 15, 1929 17 Sheeis-Sheet 1 STOCK LETTEP m5 fffffffff Inve'nZ'ons' John I. Bellamy MamTi-n L. Nelson. e-rberi F OLe'rQ eZZ July-15;, 1941. J. 1. BELLAMY ETAL TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 17 Sheets-Sheet 2 5706A PEG/5 T525 fm/eniars John I. Bella Marlin L. Nels an, I Her-bar? F 06679/822 y 1941- I J. l. BELLAMY- EI'AL 2,248,937

TRANSMITTING AND RECEIVING SYSTEM Filed July is, 1929 17 Sheets-Sheet s IDF y 15, 1941- J 1. BELLAMY HA 2,248,937

TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1'929 17 Sheets-Sheet 4 STOCK-CODE -A E6/s7E/25 ll a Q F A Q A x 4 A I v WI/4x51 y 1941. J. l. BELLAMY ETAL 2,248,937

TRA NSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 '17 Sheets-Sheet 6 608 y- 6/7 as 6/6 1 fly.

July 15, 1941. BELLAMY ETAL 2,248,937

TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 17 Shets-Sheef. '7

PH PP/CE PEG/STEPS Inven'lors John I. Bellamy, Majrfin L./ /elson. Herbefl F obcrgfell y 1941- J. BELLAMY ETAL 2,248,937

TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 17 Sheets- -Sheet a 555 FIG 4 [nveni'ors John I. Bellamy. Map-r1771 L Nelson,

. Hcrberl F Obergfell July 15,1941. J. l. BELLAMY EIAL.

TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 17 Sheets-Sheet 9 Em MM 1 MQQ ' InvenTorS John Iv Bellann Martin L. Nelson.

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IRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 1''! Sheets-Sheet 10 'InvenTors v John I. Bellamy. Mar-Tin L. Nelson Herber'l F Obergifell v m$ mmQ 66$ mQ @mb 63 Q3 3 6% @i 5\\ QR QR July 15 1 941. J. l. BELLAMY EIAL TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 1''! Sheets-Sheet 11 gig HEW

fnveni'ors John L BeZZaJn M67227! L. Nelson, Herbefi E Obergfdl July 15,, 1941;

J. BELLAMY mm. 2,248,937

TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 17 Sheets-Sheet 12 Fly. /2

lnvenfons John I Bellamy MaTZin L. Nelson,

Herber? F flbcrgfifeil July 15, 1941.

TI 1 m J. l. BELLAMY ETAL TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 17 Sheets-Sheed 13 fmiefiforzs' John I. BeZZaJny, MaTZz'n L NeLson, Herber? E Obergfell July 15, 1941. J. l. BELLAMY ETAL TRANSMITTING AND RECEIVING SYSTEM 1'7 Sheets-Sheet l4 Filed July 15, 1929 Q Q S? hi may mg 9Q John 1 BeZZaJn Marfz'n L Nelson,

erber? F Obergfell July 15, 1941; J. l. BELLAMY mm.

TRANSMITTING AND RECEI VING SYSTEM Filed July 15, 1929 17 Sheets-Sheet 15 @QQQQ [nvenforts' Ja/m Bellamy, Marlzn L. Nelson, H r567? F Oberflell July 15, 1941. J. L BELLAMY ETAL TRANSMITTING AND RECEIVING SYSTEM Filed July ,15, 1929 -17 Sheets-Sheet 16 Q m 5 m 3 E E m as E 9 B E k b k 1721767210219 John Bel Ma-rZz'n' L. Ne Her bar? F 0bergfell lam Zsan,

- July 15,1941. J, I, BELLAMY ETAL 2,248,937

TRANSMITTING AND RECEIVING SYSTEM Filed July 15, 1929 1'! SlTeets-Sheet 1'7 Qlllllllllll R u+++++++++++ Q35 lllllllllll. qw' o hQ Fly. A9

John 1. Bellarriy MaTTm LNeZson HeTberT F. Obergfell v Patented July 15, 1941' TRANSMITTING AND RECEIVING SYSTEM John I. Bellamy, Brookiield; Martin L. Nelson, Park Ridge, and Herbert F. Obergtell, River Forest, Ill.,.assignors', by mesne assignments, to Associated Electric Laboratories, Inc., Chicago, 111., .a corporation of Delaware Application July .15, 1929, Serial No. 878,208

6 Claims.

and receiving systems, but is concerned more particularly with systems of this kind wherein the transmitter comprises a register sender and wherein the receiver comprises an indicating device responsive to impulses received from the transmitters The main object, broadly stated, is the production of a new and improved transmitting and receivingsystem suitable for transmitting information regarding the selling price of stocks so that such prices may be received and set up on indicators at a plurality of points.

The object of the invention will perhaps be better understood if a brief description is given of the way in which stock brokers inform their customers at present of the price trend of the stocks they ofier for sale. It is customary for a broker to have a so-called stock ticker in his oflice from which a tape slowly unwinds, giving the selling prices of the active stocks. The broker has an attendant who reads thetape and marks down the prices on a blackboard so that the waiting customers may see the trendof the market. In addition to showing the last, selling price in a space provided under the name of a given stock, the blackboard shows yesterdays closing price, today's opening price, the high price of the day, and the low price of the day.

General description thefirst letter is A to K.

The presentsystem relates to transmitting I well as all stocks of two or three letters of which The second operator takes care of the sales involving the stocks L to Z andthe plural letter stocks whose designations begin with any one of the letters L to Z. It will be understood, of rmurse, that this line of division is purely arbitrary, and that any other division may be made from time to time as it becomes v necessary.

The other objects and features of the'invention, having to do with the manifold operations involved in setting up and transferring and dis- One outstanding disadvantage of the 'method trolled from a separate transmitter at the single recording point,

It is proposed further to make use of the usual ticker tape at the central point, and to provide two operators for setting up the quotations. The stocks are listed by means of the letters of the alphabet, some stocks'being represented bya single letter, some by two, and others by three. In order to make a division of stocks between the two operators, all stocks represented by the letplaying the type indications, are more or less subordinate to the objects and features hereinbefore enumerated, and will be understood best upon a further perusal of the specification in comiection with the accompanying drawings.

Certain features of the present invention are being claimed in divisional applications, Serial Nos. 484,958 and 497,642, filed September 29, 1930, and November 24, 1980, respectively, now respectively Patents 2,192,217, dated March 5,1940, and

2,096,954, dated October 26, 1937.

Description of drawings Referring now to the drawings comprising Figs. 121, they show by means of the usual circuit diagrams and mechanical drawings a transmitting and receiving system embodying the features of the invention. More in particular, Figs. 1-8 show a transmitter which may be designated as a transmitter Tl; Fig.9 indicates thetransmitters T2, T3, and T4 together with a few of the plurality of receivers and the repeaters RI and R2; Figs. 10, 11, and 12 show circuit draw-- ings of one of the receiverswhich may be designated as the receiver RE2; Figs. 13-16 indicate mechanical details of the indicating apparatus in the receiver; Figs. 17 and 18 are circuit drawings 'to ,be substituted for Figs. 10 and 12 when a modified type of indicator is used at the receiving station; Fig. 19 is a combination mechanical and circuit drawing of a modified type of indicator with which the circuit drawings 17 and 18 are used in substitution for the circuit drawings 10 and 12; Fig. 20 is a table showing the code according to which. the impulses are transmitted by the transmitter and are received and recorded in the receiver; and Fig. 21, appearing on the lower part of the same sheet with Fig. 5, is a layout of the drawings Figs. 1 to 12 and Figs. 17 and 18.

The transmitter ters A' to K may be assigned to one operator, .as The apparatus for registering the stock-desig- ST2, and 8T3, as well as the intermediate distributing frame IDF, Fig. 3. The price registers for registering the price (at which a current stock transaction took place) under the control of the digit keys of Fig. comprises the price registers shown in Fig, 7. The price register PH registers the price hundreds digit; the register PT registers the price tens digit; the register PU registers'the price units; and the register PF registers the price fractions digit. These designations hold true in cases. full price quotation is sent, but' the arrangement varies somewhat I in case a lesser number of pricedigits is sent as will be hereinafter-explained.

The stock code registers shown in Fig. 4, which are set from the translating apparatus of Fig. 3,

through the intermediate distributing frame IDF,

comprise the stock hundreds register SH, the.

stock tensregister ST, and the stock units register SU. It may be further pointed out that a so-called range indication (to-be later explained) is registered'on the range register R of Fig. 6 under control of the range keys of Fig. 5.

It will be noted that the lower portion of Fig. 6 includes a, rectangle labelled "Register set #2." This register set #2 contains a duplicate or the equipment shown inFigs. 4 and 5 and of the range register R of Fig. 6. The two register sets are arranged to be used alternately so that a second registration may be set up immediately following the first and while the first is held stored on the first register set and is being transmitted.

The relays 6H and SIS, it may be pointed out,

are common to the two registers and are arranged to switch from one register to another automatically at the end of a registration so as to automatically switch the neiit register into service.

The apparatus shown in Fig. 8 is the sending apparatus and it sends digit impulses under the control of the two register sets shown in Figs. 4, 6, and '7. Theimpulses transmitted by the sender of Fig. 8 go out over the conductor 82! to the repeater RI, Fig. 9, and are from thence repeated to the several receiving stations.

Detailed description The system having been, described generally,

,a detailed description of the operation of appa-' ratus shown will now be given. For this purpose, a description of the operations involved when the operator at the transmitter Tl, shown in Figs. 1

be assumed further that the letters representing the stock whose quotation is to be transmitted are the letters B, B, and A and that the price to be transmitted is 104 dollars. It will be assumed further that this is neither the high price nor the low price of the day and that it is accordingly set up as merely the last price. The full indication to be set up may be represented J indication) relay m.

, amass? by BBA-1041LA. The first portion is set up keys of Fig. 5; and the final portion (the range is" set up by operating a range key of Fig.5. i

Stock registration To set up this number the operator first operates the letter key B of Fig. 1. These keys, it

will be understood, are non-locking keys of the push-button type, being arranged so that, when the operator depresses a key to close the contacts thereof and releases the key, the plunger returns to normal and the contacts of the key open. When the key B is pushed, a circuit is closed from ground through the contacts of the key and through contacts of the normally energized connecting relay 202 for the register relay B of the stock register SRI. Relay B energizes and at its inner upper armature closes a locking circuit for itself through the transfer relay 20I from the grounded conductor 250, which is grounded throughcontacts of relays 201 and 208 from the grounded conductor 602, which latter conductor is grounded in Fig. 6 through contacts of the error relays 6l3' of the register set #2 and (N3 of the register set #1. The locking circuit for relay B does not become effective immediately and relay 20l remains short circuited and deenergized as longas the key B of Fig. 1 is held depressed, but, when the key B is released, the short circuit is removed from arounl relay 20l and it energizes in series with relay B and opens the circuit of relay 202 and closes a circuit for connecting relay 204 through the inner armature of relay 203. Relay 204 pulls up and relay 202 falls back and disconnects the conductors of the keys A to R from the storage relays A to R of the stock register SRI. It will be noted, of course, that only the relays A, B, and R of this set are shown and that only the con'espondingcontacts of relay 202 are shown. It will be understood that the intervening relays are connected up in the same manner as those shown. A similar curtailment occurs in the case of the registers SR2 and SR3 and in each case it has been for the purpose of simplifying the drawings.

When the operator depresses the letter key B to register the second stock letter B, a circuit is closed through contacts of relay 204 of the stock register SR2 for the B relay in this stock register. It will be noted that this relay is designated B. This indicates that the registration of this relay is the second letter of a stock, and that the first letter may be any one of several. When the relay --B operates, it closes at its inner upper armature a locking circuit for itself to the said grounded conductor 250 by way of the transfer when the key B of Fig. 1 is allowed to restore and it transfers the operating ground from relay 204 to relay 206 by way of contacts of the transfer relay 205. Accordingly relay 204 falls back and disconnects the letter keys A to Z from the second-letter storage relays A to --Z, and relay 206 energizes through contacts of relays 20!, 203, and 205, and connects the letter keys A to Z to the third-letter relays -A to -Z of the stock register SR3. The relays of the register SR3 are designated in this manner to indicate that they are the third letter relays and that the first two letters are variable letters, that is either one of the first two letters may be any one of a plurality.

Relay 203 isaccordingly operated 1 a circuit is closed through contacts of relay 205 I I 2,248,937 When the operator depresses the key A of Fig.

for the relay-'-A which operates and at its inner upper armature closes a locking circuit for itself through relay 205 to the grounded conductor 250. Accordingly, transfer relay 205 'bperates in series with relay A when .the A key is released and at its inner armature it disconnects relay 20B and allows it to fall back and disconnect the letter keys from the associated relays .A to ---Z.

The stock concerning which the quotation is about to be transmitted has now been identified on the registering apparatus by the above-described energization of relay B of the stock regis- .ter Rl, of relay B of the stock register SR2,

and of the letter A of the stock register SR3. This three-letter registration is to be subsequently translated by the translating apparatus of Fig. 3 into a preassigne'd three-digit code in a manner to be hereinafter pointed out. I

r Price registration Referring now to Figs. 5, 6, and 7, when the operator depresses the digit key I, Fig. 5, to regisfor themselves at their inner armatures through the transfer relay 1.05 to the grounded conductor 605. As a result, when the key 4 of Fig. 5 is released, relay 105 operates and transfers the operating ground from relay 106 of the priceunits register to the relay 10B of the price-fractions register PF. Conductors 50l-504 are accordingly disconnected from the relays. of the price-units register by the deenergization of relay 106 and are connected to the relays A to D of the register PG by the energization of relay 108.

When the fractions digit 1 (indicating An is recorded by depressing the digit key I, relays A and B of the price-fractions register PF operateover conductors 50l and 502 and close locking circuits for themselves to conductor 606 by way of transfer relay 101. As a result, relay 101 operates when the digit key I is released and it opens the circuit of relay 108, whereupon relay I08 falls back and disconnects the conductors 50 l-504 fromthe relays A to D of the price-fractions register ter the price-hundreds digit 1, acircuit is closed from ground through the right and left contacts of the digit key -I over conductors 5M .and 502 for the storage relays A- and B 'of the price hundreds register PH, Fig. 7, through contacts of connecting relay 102, which latter relay is energized through contacts of transfer relay 10! from the grounded conductor 601, conductor 601 being supplied with ground potential through the lower armature of the energized relay 614 of Fig. 6.

When relays A and B operate, they close locking circuits for themselves at their inner armatures through transfer relay IM to the grounded conductor'606, conductor 606 being grounded at this timethrough the upper contacts of relay 40 H3 and the normally closed contacts controlled by the upper armature of relay 6 l5. As a result, when the digit key I of Fig. Sis allowed to restore, the locking circuit for relays A and B becomes efiective and relay 10l energizes therein and transfers the grounded conductor 601' from relay 102 to the connecting relay 104 through contacts of the transfer relay 103. Accordingly,'rela y 102 falls back and disconnects the key conductors l-504 from the relays A to D of the price hundreds register PH, and relay 104 operates and connects these conductors to the corresponding relays of the price tens register PT.

When the operator depresses the digit key 0 to set up the price-tens digit, a circuit is closed from ground over conductor 504 and through contacts of connecting relay 104 for relay D of the price tens register F12, Relay D operates and locks itself at its inner armature to the grounded conductor 606 by way of the transfer relay I03.

Relay 103 accordingly energizes when the digit key 0 is restored and it transfers the operating conductor 601 from connecting relay 104 to the connecting relay 106 by way of contacts of .the transfer relay 105. Relay 104 accordingly falls back and relay 10-6 operates, and conductors 501-504 are disconnected from the relays of the register PT and are connected to the relays A t D of the register PU.

When the operator depresses the digit key 4 to set up the price-umts digit 4, a circuit is closed from ground through the contacts of the digit key 4 over conductors 502 and 503 for the relays B and C of the price units register PU. These relays operate and close locking circuits PF. I

Range registration Having recorded the stock and the price quota tion, the operator indicates the range by depressing the range key LA to cause the price quotation to be recordedas the last price. When this key is depressed, a circuit is closed from ground through the contacts of the key and over conductor 508 and through contacts of relay 6 for relay D of the range register, relay 6 being energized from the grounded conductor 601 through contacts of relay 6l0. Upon operating, relay D of the range register R closes a selflocking circuit at its inner contacts through relay M0 to the grounded conductor 506. As a result, relay H0 energizes when the range key LA. is released and with results to be explained.

herein-after. v

The registration is now complete and the result of the registration will be taken up in detail.

Stock transfer and translation by two letters, or by three letters, arrangements are provided for delaying the transfer of a regcontacts of transfer relay N0 of the range reg-' ister R, Fig. 6, and continues by way of conductor 608, lower contacts of relay 103, lower contacts of relay 101 (now energized), stock transfer conductor 601, to the upper armatures of relays. -A to --Z of the register SR3, Fig. 2. This conductor is extended to the corresponding armatures'of the relays ---A to Z of the stock register SR2 in case only a two-letter designation is recorded on account of the fact that relay 205 is not energized in such case, and it is extended through contacts of relay 203 to the corresponding armatures of relays A to R of the stock -register SRI in case only a one-letter designation Since a stock may be identified by one letter, 

